Objective, impartial advice for Property Investors and Landlords with a focus on the Edinburgh area

Tuesday, 11 December 2018

Edinburgh buy to let opportunity in a traditional block

Today’s buy to let opportunity from The Edinburgh
Property Blog is one bed flat in a well maintained traditional tenement.

The flat is a top floor, one bed flat in Wardlaw Place in
Gorgie. It has a lounge with a kitchen as
well as an interesting dining area off it, a double bedroom and a shower room. The property has double glazing, electric heating,
a shared garden at the rear and unrestricted parking outside. Although the sales advert says that the
property ‘would benefit from some refurbishment’, the pictures make it look as
if it would be ok to rent out so worth checking this out at your viewing.

A couple of points to be aware of. The flat is on the top floor of a tenement so
if there are (communal) roof problems, this flat is likely to be one of the
first to be impacted. In addition, the
property has electric storage heating which is less attractive to tenants than
gas central heating. These are likely to
be reflected in both the purchase price and the rent levels achievable.

Turning to the financials. The asking price for this property, which is
on the market with Mov8, is offers over £115,000 so let’s say it goes for £130,000 The flat should let for around £625 pcm which
get you to a yield of 5.8%.

We hope you find our posts useful. If you would like some advice with your
potential investment, please call me on 0131 603 4570 or email me on news@thekeyplace.co.uk.

No comments:

Post a Comment

About This Blog

This blog follows the buy to let market in Edinburgh. You'll find tips, guidance, and analysis that relates specifically to Edinburgh and you'll also find properties from all the estate agents in the city on here that may make decent investments. Views expressed are those of the author only.

Follow by Email

Robert Young

Robert Young is the author of this blog.

Robert and his team operate The Key Place and if you're thinking of buying a property to let in Edinburgh, we'll be happy to advise or just offer a second opinion. We can be contacted on robert@thekeyplace.co.uk, or 0131 603 4570.